Saturday, July 20, 2024 Boeing has projected a 3% increase in airplane deliveries over the next two decades, with air travel not only fully recovered but also exceeding pre-pandemic levels. The company anticipates the need for nearly 44,000 new commercial airplanes by 2043. This forecast was revealed ahead of the Farnborough International Airshow, as Boeing released its 2024 Commercial Market Outlook (CMO).
The report underscores the significant role of emerging markets and the global single-aisle market as the primary drivers of growth for the aviation industry. In a world that’s increasingly connected, air travel demand is outpacing economic growth. Four years after the pandemic grounded much of the global fleet, air traffic growth has returned to the long-term trend Boeing forecasted two decades ago.
According to the CMO, passenger air traffic is expected to grow at an average annual rate of 4.7% over the next 20 years compared to 2023. “This is a challenging and inspiring era for aviation.
The return to more typical traffic growth shows how resilient our industry is, even as we all work through ongoing supply chain and production constraints amid other global challenges,” said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing. Fleet Growth Projections: Air Travel Trends: Key Growth Drivers: Rising Demand for Services: “As airlines respond to robust passenger demand, the services market continues to expand, not only as a result of fleet .